Former Commerce Secretary Wilbur Ross, known as the “King of Bankruptcy” after spending over 55 years on Wall Street, is set to release his upcoming book titled “Risks and Returns: Creating Success in Business and Life.” However, not many know that Ross had aspirations of becoming a writer during his college years. Ross fondly recalls his time at Yale, where he pursued courses preparing students to become fiction writers by submitting 1,000 words of fiction or poetry by 10 a.m. every week. Despite his initial interest in writing, Ross eventually found his way to success in the world of business.
During his time at Harvard Business School, Ross had the opportunity to study under the tutelage of Georges Doriot, a renowned French instructor who became an American citizen to serve in World War II. Doriot’s unconventional advice to his students to dress for their intended success left a lasting impact on Ross. The emphasis on appearance as a reflection of ambition and potential success resonated with Ross as he navigated his career on Wall Street.
Despite his financial endeavors, Ross found solace living at the Dakota, an iconic address on the Upper West Side known for attracting esteemed residents such as John Lennon. Ross reminisces about the time he spent living alongside Lennon and other notable figures like Leonard Bernstein and Rudolf Nureyev. The tragic event of Lennon’s assassination in 1980 left a profound impact on Ross and the community at the Dakota, leading to a collaborative effort to commemorate the musician’s legacy with the Central Park Strawberry Field memorial.
From Adversary to Ally with Trump
Ross’s professional journey also intersected with another prominent New Yorker, Donald Trump, during a bankruptcy proceeding involving the Trump Taj Mahal. Despite starting as adversaries in the legal battle, Ross’s interactions with Trump showcased the business acumen and resilience that would later lead him to support Trump’s presidential campaign. Ross’s pivotal role in aiding Trump during a challenging financial period positioned him as a trusted advisor and ally in the years to come.
Upon joining the Trump administration as Commerce Secretary, Ross faced the monumental task of overseeing complex operations, including the hiring of over 400,000 part-time workers and doorknockers for the census. His experience as a census taker during his time at Harvard Business School provided valuable insights into the logistical challenges of such a large-scale operation. Despite facing criticism over controversial decisions, such as reinstating a US Census question about citizenship, Ross remained focused on ensuring the successful execution of his responsibilities.
As Ross prepares to launch his new book, he has garnered praise from influential figures in the business and media world. Endorsements from industry leaders like Citadel CEO Ken Griffin, Blackstone Group CEO Stephen A. Schwarzman, and billionaire Trump donor John Paulson attest to Ross’s reputation and impact on the business landscape. Additionally, support from individuals like Larry Kudlow and Deborah Norville further solidify Ross’s status as a respected voice in the realm of business and government.
Wilbur Ross’s journey from a budding writer to a successful businessman and public servant exemplifies the resilience and adaptability required to navigate the complexities of various industries. Through his experiences with notable figures and challenging situations, Ross has emerged as a respected authority on business strategy and leadership, offering valuable insights for aspiring entrepreneurs and established professionals alike.